Redstone Wealth Management LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO – Free Report) in the first quarter, Holdings Channel reports. The fund purchased 2,144 shares of the semiconductor manufacturer’s stock, valued at approximately $664,000. Broadcom makes up about 0.5% of Redstone Wealth Management LLC’s holdings, making the stock its 24th biggest holding.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baring Financial LLC grew its stake in Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock valued at $470,000 after buying an additional 29 shares during the last quarter. Five Oceans Advisors lifted its position in shares of Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock worth $2,835,000 after purchasing an additional 29 shares during the last quarter. Solitude Financial Services lifted its position in shares of Broadcom by 0.5% during the 1st quarter. Solitude Financial Services now owns 5,728 shares of the semiconductor manufacturer’s stock worth $1,773,000 after purchasing an additional 29 shares during the last quarter. Planning Alternatives Ltd. ADV boosted its stake in Broadcom by 1.4% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock valued at $715,000 after purchasing an additional 30 shares during the period. Finally, Bell Investment Advisors Inc grew its holdings in Broadcom by 1.9% in the 3rd quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer’s stock valued at $540,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.
Trending Headlines about Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Analysts and market commentators are pointing to Broadcom’s strong AI demand as the main reason to stay bullish. Recent coverage highlighted record semiconductor sales, AI chip and networking demand, and strong customer commitments as evidence that the company’s AI growth story remains intact. Broadcom’s AI Push Boosts Semiconductor Sales: More Upside Ahead?
- Positive Sentiment: JPMorgan reportedly reiterated buy-the-dip optimism, citing Broadcom’s multi-year Google partnership, record quarterly revenue of $22.19 billion, and AI semiconductor sales of $10.8 billion, up 143% year over year. The note also pointed to expectations for another step-up in AI-chip growth next quarter. Broadcom’s AI boom — Google deal and huge revenue growth spark buy-the-dip calls
- Positive Sentiment: Several pieces argue that the market is overreacting to a modest AI revenue guide and that the selloff has created an accumulation opportunity. They emphasize that Broadcom’s revenue, semiconductor growth, AI bookings, and backlog are all at record levels, which supports the longer-term investment case. The Grandest Castle Ever Floated (and the Stocks to Profit From It)
- Positive Sentiment: Broadcom is also attracting broader investor attention and continued analyst support, including a consensus “Moderate Buy” rating, which may help stabilize sentiment after the recent decline. Broadcom Inc. (NASDAQ:AVGO) Receives Consensus Recommendation of “Moderate Buy” from Analysts
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on Broadcom
Insider Buying and Selling at Broadcom
In other Broadcom news, insider Mark David Brazeal sold 4,825 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the completion of the sale, the insider owned 269,989 shares in the company, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. This represents a 10.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 59,385 shares of company stock worth $21,301,057 over the last quarter. Corporate insiders own 1.90% of the company’s stock.
Broadcom Stock Performance
Broadcom stock opened at $392.13 on Tuesday. The stock has a fifty day moving average price of $412.17 and a two-hundred day moving average price of $363.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 52-week low of $246.46 and a 52-week high of $495.00. The firm has a market capitalization of $1.87 trillion, a P/E ratio of 65.36, a P/E/G ratio of 0.72 and a beta of 1.41.
Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 earnings per share. As a group, analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.
Broadcom Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is 43.33%.
Broadcom Company Profile
Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.
On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.
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